The Power have first access to precocious talent Cochrane, the son of former Port and North Melbourne player Stuart, through the club's next generation academy.
But Port face the prospect of having to stump up a suite of high draft picks to secure Cochrane under changes to the bidding system soon to be announced by the AFL.
Under the changes, clubs will no longer be able to use a raft of low draft selections - such as Brisbane used for dual Norm Smith medallist Will Ashcroft (picks 34, 35, 38, 40 and 41) - to accumulate draft points to convert into a high pick.
Instead, the Power could be forced to use two top-10 selections to secure Cochrane - as will Carlton for father-son selection Cody Walker. The duo are considered the top two talents at this November's draft.
Chief executive officer Matthew Richardson has protested the looming changes as a "massive disadvantage" to his club.
Carr said he would leave the public lobbying to Port hierarchy but supported their view.
"We have had a pretty strong view on it," Carr told reporters on Thursday.
"From my point of view as coach, I just want these players in at our football club.
"So whatever we need to do to do that, we'll do it. But I will  probably let Richo and (list manager Justin Cripps) Crippa deal with it."
Cochrane, who turns 18 next month, has been likened to Swans forward Charlie Curnow but is also considered a potential elite midfielder.
"He's still young and raw," Carr said.
"He's a fantastic kid. He's got obviously really good grounding and just wants to be a really good player.
"He's competitive - he's got all the ingredients. So we'd love to have him at this footy club."
The looming changes also mean Port face paying higher draft capital for likely 2027 father-son selections Louis Salopek, the son of Steven, and Tevita Rodan, son of David.
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